Pace Global Independent Study Validates Economic Benefits Of
Lightbridge's Proprietary Metallic Fuel
MCLEAN, Va., Dec. 5, 2012 /PRNewswire/ -- Lightbridge
Corporation (NASDAQ: LTBR), a leading innovator of next generation
nuclear fuel designs and provider of nuclear energy consulting
services to commercial and governmental organizations, today
announced that independent analysis of the Company's fuel design
validates the technology's indicated benefits of increased power
output and enhanced operating economics for nuclear utilities.
"Power uprate project economics are generally attractive for
nuclear plant owners," the study concluded. "The economics of
Lightbridge's nominal 10% capacity uprate are attractive since the
uprate's levelized cost of generation is below the expected market
price for power in 2021 and that of most incremental power uprates
on fossil fueled units." The economic analysis was prepared by Pace
Global Energy Services LLC, a Siemens business, working with a
global engineering firm with expertise in the nuclear power
industry.
"This analysis by a credible and respected expert advances the
strategic positioning of Lightbridge's fuel technology within the
nuclear power industry," said Seth Grae, Lightbridge President and
Chief Executive Officer. "The Pace Global study shows that
Lightbridge's metallic fuel can deliver significantly improved
economics to nuclear utilities from increased power output and
extended fuel cycles, resulting in highly attractive returns on
invested capital, even with conservative assumptions on reactor
conversion and regulatory licensing costs, and fuel technology
licensing fees paid to Lightbridge. The economics for a 10%
power uprate case are quite favorable across both regulated and
unregulated utility markets and provide the cheapest source of
incremental generating capacity compared to building a new nuclear
or non-nuclear power plant."
Other findings of the Pace Global study include projected
increases in domestic wholesale power prices of 4.5% per year from
2013 to 2030, which would further improve the economics for
utilities using Lightbridge's fuel. Power prices are expected
to average more than $70/MWh (as
measured in 2012 U.S. dollars) by
2030, compared with an estimated range of $29 to $41/MWh in 2013, the study says. The
full report can be accessed via Lightbridge's website in the
Featured Reports and Presentations section of the Company's
Investor Relations page.
"While the Pace Global study focused exclusively on power
uprates in existing 4-loop Westinghouse-type 1,100-MWe pressurized
water reactors (PWR), Lightbridge's metallic fuel is also expected
to deliver improved plant economics in new PWR designs such as
AP-1000, EPR and similar new reactor designs, boiling water
reactors, and light water-based small modular reactor designs,"
Grae said.
The Pace Global economic analysis comes after the recent
publication of a peer-reviewed article that highlights how the
Company's next generation fuel is capable of increasing the power
output and extending the fuel-cycle length of light water
reactors. The article also reviews the unique geometry and
composition of the metallic fuel and its application to power
uprates in light water reactors. The article was published in
the December 2012 edition of
Nuclear Technology, a publication of the American Nuclear
Society. An abstract of the article is available at
http://www.new.ans.org/pubs/journals/nt/v_180:3.
About Lightbridge Corporation
Lightbridge is a US
nuclear energy company based in McLean,
Virginia with operations in Abu
Dhabi, Moscow and
London. The Company develops proprietary, proliferation
resistant, next generation nuclear fuel technologies for existing
and future nuclear reactor systems. The Company also provides
comprehensive advisory services for established and emerging
nuclear programs based on a philosophy of transparency,
non-proliferation, safety and operational excellence.
Lightbridge's breakthrough fuel technology is establishing new
global standards for safe and clean nuclear power and leading the
way to a sustainable energy future. Lightbridge consultants
provide integrated strategic advice and expertise across a range of
disciplines including regulatory affairs, nuclear reactor
procurement and deployment, reactor and fuel technology and
international relations. The Company leverages those broad
and integrated capabilities by offering its services to commercial
entities and governments with a need to establish or expand nuclear
industry capabilities and infrastructure.
Lightbridge is on Twitter. Sign up to follow
@LightbridgeCorp at http://twitter.com/lightbridgecorp.
About Pace Global Energy Services, LLC
Pace Global, a
unit of the Building Technologies division of Siemens AG, is a
leading energy consulting and management company. The company
combines deep industry knowledge with commercial, technical,
financial, and regulatory expertise to help organizations maximize
value and manage risk in today's complex energy and environmental
markets. For more than 35 years and in more than 60 countries, Pace
Global has worked closely with its clients to define strategies and
implement solutions. The company offers a unique, integrated
perspective our clients have come to trust, which we call the Power
of Integration. For more information, visit www.paceglobal.com.
Forward Looking Statements
This news release contains
statements that are forward-looking in nature, including statements
regarding Lightbridge's competitive position and product and
service offerings. These statements are based on current
expectations on the date of this news release and involve a number
of risks and uncertainties that may cause actual results to differ
significantly from such estimates. The risks include, but are
not limited to, the degree of market adoption of the Company's
product and service offerings; market competition; dependence on
strategic partners; and the Company's ability to manage its
business effectively in a rapidly evolving market. Certain of
these and other risks are set forth in more detail in Lightbridge's
filings with the Securities and Exchange Commission.
Lightbridge does not assume any obligation to update or revise any
such forward-looking statements, whether as the result of new
developments or otherwise.
CONTACT:
Gary
Sharpe
Investor Relations & Corporate Communications
Lightbridge Corporation
571-730-1213
gsharpe@ltbridge.com
SOURCE Lightbridge Corporation